Category: Tourism
Sri Lanka aims to build tourism momentum: OBG
Aug 24, 2016 (LBO) – Data from July indicates Sri Lanka’s tourist arrivals showing new momentum, with arrivals expanding by 19.1 percent y-o-y, the Oxford Business Group said in an economic note. Sri Lanka saw a sharp rise in tourism arrivals in the first half of the year, with inbound traffic up 16.7 percent year-on-year […]
Browns Beach Hotels to raise Rs1.4bn through rights issue
Aug 23, 2016 (LBO) – Sri Lanka’s Browns Beach Hotels is to raise 1.4 billion rupees by way of a rights issue subject to necessary approvals, the company said in a stock exchange filing. The company is to issue 54 million new ordinary shares at 25.85 rupees each in the ratio of 5 new shares […]
Abolishing minimum rates will disturb Sri Lanka hotel investments: hotelier
Aug 22, 2016 (LBO) – Sharp fluctuations in hotel revenues will prevent long term planning and investment in Sri Lanka’s hotel sector, especially if minimum rates are abolished, says Sanath Ukwatte, chairman of Mt. Lavinia Hotel. Tourism Development ministry said last month it plans to abolish the minimum room rates for both luxury and normal […]
Sri Lanka tourist arrivals hit all-time high in July 2016
Aug 19, 2016 (LBO) – Tourist arrivals to Sri Lanka hit an all-time high in July this year, statistics from Sri Lanka Tourism Development Authority showed. The number of arrivals which clocked 209,351 represented a growth of 19.1 percent compared to July last year and is the highest number recorded in a single month since […]
‘s Cabinet writes off Hyatt Regency in Hambantota
Aug 18, 2016 (LBO) – Sri Lanka’s Cabinet has approved shifting four billion rupees allocated for the Hyatt Regency project in Hambantota to the Grand Hyatt project in Colombo, effectively completing the write off of the Hambantota project. “Although, 315 million rupees has been spent, constructions of the said hotel has not been commenced,” a […]
Sri Lanka vehicle registrations fall further in July: JB Securities
Aug 16, 2016 (LBO) – Sri Lanka vehicle registrations in July fell in almost every category compared with June, JB Securities said in a research note. Buses and heavy truck registrations however showed an increase over the previous month. Motor car registrations in the July were 2,489 units, down from 3,026 units the previous month, […]
LSE business division to open HQ in Sri Lanka soon
Aug 15, 2016 (LBO) – London Stock Exchange Group’s Business Services division (LSEG BSL) will soon open its new headquarters in the historic Expert City precinct, formerly known as Tripoli Market, in Colombo. The new Business Services division in Sri Lanka will provide support to the group’s operating entities across the globe, the group said in […]
Sri Lanka to Host Asia Hotel and Tourism Investment Conference
Aug 15, 2016 (LBO) – Sri Lanka, one of the top two emerging hotel and resort markets in Asia, is to host the first Asia Hotel and Tourism Investment Conference (AHTIC), a top-level gathering of international investors, business leaders, government ministers and officials. President Maithripala Sirisena is supporting the conference as its patron. The AHTIC […]
Sri Lanka’s Hemas Holdings profits surge 68-pct in June quarter
Aug 11, 2016 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure and healthcare, has posted a equity holder profit of 696 million rupees in the June 2016 quarter, up 68 percent from a year earlier, interim accounts showed. The group reported basic earnings of 1.22 rupees per share for the quarter, […]
Expolanka Holdings top line grows 7 pct in June quarter
Aug 09, 2016 (LBO) – Expolanka Holdings, which operates in areas including logistics and leisure, said it recorded seven percent growth in revenue to 14.96 billion rupees in the June quarter, which was a resilient performance amidst challenges. With its strategic shift towards growth sectors in logistics and leisure, operating profit increased 20 percent to […]
Sri Lanka tourist arrivals up 19-pct in July, crosses 1mn
Aug 05, 2016 (LBO) – Sri Lanka’s tourist arrivals in July were up 19 percent to 209,351, with China and India showing the strongest growth, the state tourism office said. Arrivals up to the first seven months rose 16.7 percent to 1.17 million visitors. India remains the largest source market with a 12 percent growth […]
Sri Lanka to abolish hotel minimum rates by next year
July 29, 2016 (LBO) – Sri Lanka’s Tourism Development ministry has decided to abolish the minimum room rates imposed on city hotels with effect from 31st March 2017. This decision has been taken by the Tourism Development Minister John Amaratunga based on a recommendation of the Tourism Advisory Council which comprises of key players in […]